ldfa board meeting september 20, 2011 8:15 am to 10:15 am ...€¦ · ldfa board meeting september...

LDFA Board Meeting September 20, 2011 8:15 am to 10:15 am

Downtown Development Authority 150 S. Fifth Avenue, Suite 301, Ann Arbor, MI

48104

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I. Call to Order

II. Public Comment Public comment shall be allowed at all meetings. An individual may speak for up to three (3) minutes on any item listed on the Agenda. The Chair may extend an individual’s speaking time in his/her discretion. Public comment on non-agenda items may be limited in the Chair’s discretion.

III. Approval of the Agenda

IV. Approval of the Minutes of the June 14, 2011 Regular Board Meeting

V. Election of LDFA Officers VI. Annual Appointment of Board Committees VII. Approval of the FY 2012 meeting schedule

VIII. LDFA Chair’s Report

a. LDFA FY 2011 Annual Report b. Revision of By-laws

IX. LDFA Treasurer’s Report

a. LDFA Financial Report – 4th quarter FY 2011

X. Reports from Service Providers a. Acceptance of SPARK Report – 4th quarter FY 2011 b. Presentation and acceptance of SPARK FY 2011 Annual report c. Request to pay $14,266.10 overage from last fiscal year’s contract d. Phase IV program e. Microloan portfolio update f. Business Accelerator survey report g. Modified Boot Camp

XI. Other Business

a. Cantillon update

XII. Motion to Adjourn

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DRAFT

MINUTES – REGULAR BOARD MEETING June 14, 2011

Ann Arbor-Ypsilanti Smart Zone Local Development Finance Authority

Ann Arbor SPARK

201 S. Division St., Suite 430, Ann Arbor, MI 48104

Members Present: Richard Beedon, Theresa Carroll, Michael Korybalski, Mark Maynard, Stephen Rapundalo, Phil Tepley (by phone), Tom Crawford – Ex-officio, Skip Simms-Accelerator Ex-officio Members Excused: Darryl Daniels, Lisa Kurek Others Present: Ken Bogan-City of Ann Arbor-Finance, Britney Affolter-Cain-SPARK, Luke Bonner-SPARK, Donna Doleman-SPARK, Lori Emerson-SPARK, Greg Fronizer-SPARK, Emily Heintz-SPARK, Bill Mayer-SPARK, Kurt Riegger CALL TO ORDER: Rapundalo called the meeting to order at 8:16 am. A quorum was present. PUBLIC COMMENT: There was no public comment. APPROVAL OF THE AGENDA: Maynard moved, seconded by Korybalski, to approve the Agenda for this meeting in the form presented at this meeting. Motion approved unanimously. MOTIONS & RESOLUTIONS: Minutes of the April 26, 2011 Regular Board Meeting: Carroll moved, seconded by Maynard, to approve the Minutes of the April 26, 2011 regular board meeting in the form presented at this meeting. Motion approved unanimously. LDFA CHAIR’S REPORT: Rapundalo gave a reminder that the Board is still seeking potential replacements for a vacancy and member Korybalski’s seat. LDFA TREASURER’S REPORT: None. REPORTS FROM SERVICE PROVIDERS:

a. Simms provided SPARK’s insurance certificate, and indicated the LDFA is indemnified under SPARK’s insurance.

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DRAFT b. Simms present a memo informing the Board of the SPARK review process for

engagements in excess of the $10,000 threshold and Micro Loan applications. The list of review committee members was included on the memo, which is attached to the minutes.

c. Simms requested the Board allow SPARK to move up to 5% of the budgeted dollars from one line to another without Board approval. The Board decided to incorporate this into the new contract language. Carroll specified that each time the contract is amended, an amendment should be written and signed by both parties.

OTHER BUSINESS:

a. Contract – Carrol presented the changes to the contract. Carroll moved, seconded by Beedon, to approve the contract, substantially in its current form and subject to the Board’s attorney’s review, with the understanding the attorney can make language changes; and that Rapundalo be authorized to sign the contract on behalf of the board. Motion approved unanimously.

b. Cantillon – Maynard and Crawford provided the board with a status update. c. Approval of FY 2012 meeting schedule – Tabled until the July meeting due to some

apparent scheduling conflicts. d. Appointment to the SPARK Executive Board – Maynard nominated Beedon, seconded by

Rapundalo, motion passed.

MOTION TO ADJOURN: Carroll moved, seconded by Maynard, to adjourn the meeting at 9:18 am. Motion approved unanimously. Respectfully Submitted, Ken Bogan, Recording Secretary for Tom Crawford

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Ann Arbor/Ypsilanti SmartZone LDFABoard of Directors

FY 2012

Municipality Member LDFA Title Term Starts Term EndsAnn Arbor Theresa Carroll 7/1/2008 6/30/2012Ann Arbor Lisa Kurek 7/1/2008 6/30/2012Ann Arbor Richard Beedon Vice Chair (fy11) 7/1/2009 6/30/2013Ann Arbor (vacant) 7/1/2009 6/30/2013Ann Arbor Stephen Rapundalo Chair (fy11) 7/1/2011 6/30/2015Ann Arbor (vacant) 7/1/2011 X 6/30/2015

Treasurer (vacant)Ypsilanti Mark Maynard 7/1/2008 6/30/2012Ypsilanti Phil Tepley 7/1/2009 6/30/2013Ypsilanti Vince Chmielewski 7/1/2011 6/30/2015

Ex-officio Tom Crawford Recording SecretaryEx-officio Skip Simms

4

Ann Arbor/Ypsilanti SmartZone LDFABoard of Directors - Committee Positions

FY 2012

Member Audit CantillonBudget/Contract Metrics

Theresa Carroll XLisa Kurek X XRichard Beedon X XStephen Rapundalo X X(vacant)(vacant)

Mark Maynard XX XPhil Tepley X X XVince Chmielewski

Tom Crawford X X XSkip Simms X XNed Staebler

Note:XXChairX Member

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PUBLIC MEETING NOTICE

Ann Arbor-Ypsilanti SmartZone Local Development Finance Authority

Location:

City of Ann Arbor 301 E. Huron Street, Ann Arbor, MI 48104

(734) 794-6500

FY 2012 Meeting Schedule: October 25, 2011 8:15am – 10:15am January 24, 2012 8:15am – 10:15am March 13, 2012 8:15am – 10:15am April 24, 2012 8:15am – 10:15pm June 12, 2012 8:15am – 10:15am July 24, 2012 8:15am – 10:15am

Persons with disabilities are encouraged to participate. Accommodations, including sign language interpreters, may be arranged by contacting the City Clerk's Office by telephone at (734) 794-6140 or by written request addressed to the City Clerk's Office, 301 E. Huron Street, Ann Arbor, MI 48104, at least 24 hours in advance.

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FINANCIAL SUMMARYas of June 30, 2011

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Smart Zone LDFAFY 2011 FINANCIAL SUMMARY

as of June 30, 2011BUDGET

ForecastACTUAL ACTUAL ACTUAL ACTUAL (Over)/Under

Q1 Q2 Q3 Q4 Full Year Amount Budget

INCOME STATEMENTRevenues:

Tax Revenue 824,876$ 105,360$ 361,366$ 183,902$ 1,475,504$ 1,400,000$ 75,504$ Miscellaneous - - - - - -$ -$ Investment Income 2,872 3,171 5,448 3,233 14,723 7,335$ 7,388$

Total Revenues 827,748$ 108,530$ 366,814$ 187,135$ 1,490,227$ 1,407,335$ 82,892$

Expenditures:

Contracted ServicesSPARK BA Direct Staffing (72,100)$ (72,100)$ (72,100)$ (72,100)$ (288,400)$ (288,400)$ -$ Phase II (Due Diligence) - (200) (3,500) (2,075) (5,775) (24,000)$ 18,225$ Phase III (Intensive Service) (22,505) (62,502) (73,925) (122,509) (281,441) (275,000)$ (6,441)$ Micro Loan Program for Entreprenueurs (137,500) (137,500) (125,000) - (400,000) (400,000)$ -$ A2 Angels - (8,500) (3,990) - (12,490) (20,000)$ 7,510$ Business Networking Events (6,684) (6,729) (10,648) (6,824) (30,885) (30,000)$ (885)$ Entrepreneurs Bootcamp - (20 000) (10 000) (10 000) (40 000) (40 000)$ -$Entrepreneurs Bootcamp (20,000) (10,000) (10,000) (40,000) (40,000)$ $ Entrepreneurial Education (7,000) (1,000) - (4,681) (12,681) (26,000)$ 13,319$ Cantillon Web Based Education (1,400) (500) (500) - (2,400) (5,000)$ 2,600$

Total Contracted Services (247,189) (309,031) (299,662) (218,189) (1,074,072) (1,108,400)$ 34,328$

SPARK Indirect ServicesSPARK Central Business Incubator (33,344) (31,098) (36,279) (54,052) (154,773) (160,000)$ 5,227$ Marketing - P/R, Print, Websites (14,739) (12,746) (17,207) (27,248) (71,940) (65,000)$ (6,940)$ SPARK Accounting (14,180) (13,163) (12,242) (13,186) (52,770) (61,350)$ 8,581$

(62,263) (57,006) (65,728) (94,485) (279,482) (286,350)$ 6,868$

City of Ann Arbor ServicesLegal & Admin. Support (111) (111) (111) (32,196) (32,529) (50,000)$ 17,471$

Total Expenditures (309,563)$ (366,149)$ (365,501)$ (344,870)$ (1,386,083)$ (1,444,750)$ 58,667$

Net Increase/Decrease 518,185$ (257,619)$ 1,313$ (157,736)$ 104,143$ (37,415)$ 141,558$

Memo:Fund Balance (6/30/2010) 477,948$ Fund Balance - Operations (Qtr End) 996,133$ 738,514$ 739,827$ 582,091$ 582,091$

Smartzone Financial Report 06-30-11.xlsx 8

Smart Zone LDFADELIVERABLESas of June 30, 2011

ACTUAL ACTUAL ACTUAL ACTUALQ1 Q2 Q3 Q4 Full Year

Phase II (Due Diligence)Number of Clients (external to SPARK) Actual/Forecast - 4.00 4.00 4.00 12.00 Budget/Proposed 3.00 3.00 4.00 3.00 13.00 Actual Over/(Under) Target (3.00) 1.00 - 1.00 (1.00)

Hours per Client (Avg) (external to SPARK) Actual/Forecast - 2.00 8.75 5.20 5.32 Budget/Proposed 6.00 6.00 7.00 6.00 6.25 Actual Over/(Under) Target (6.00) (4.00) 1.75 (0.80) (0.93)

Memo: Total Phase II Hours - 8.00 35.00 20.80 63.80

Phase III (Intensive Service)Number of Client Engagements

A t l/F t 10 00 9 00 17 00 31 00 67 00 Actual/Forecast 10.00 9.00 17.00 31.00 67.00 Budget/Proposed 15.00 15.00 15.00 15.00 60.00 Actual Over/(Under) Target (5.00) (6.00) 2.00 16.00 7.00

Hours per Client Engagement (Avg) Actual/Forecast 22.50 69.00 43.49 23.40 34.49 Budget/Proposed 66.00 66.00 66.00 66.00 66.00 Actual Over/(Under) Target (43.50) 3.00 (22.51) (42.60) (31.51)

Memo: Total Phase III Hours 225.00 621.00 739.33 725.40 2,310.73

Smartzone Financial Report 06-30-11.xlsx 9

Ann Arbor-Ypsilanti Smart Zone Local Development Finance Authority

Ann Arbor SPARK Quarterly Report

April 1, 2011 – June 30, 2011

Work Accomplished

Number and identity of companies in each phase, plus relevant aspects of commercialization 89 entrepreneurs with companies or business ideas sought business accelerator services. 34 of the 89 entrepreneurs were outside the city of Ann Arbor. The following companies were in Phase II Due Diligence this quarter but have not reached Phase III

Account Name Opportunity Description Account Description Meadowlark Energy Scope of work determination

for next engagement Fully integrated green building company.

DNA Software Funding and business assistance Software for computational biology Patient Provider Communications

Competitive Mapping and FTO Hospital bed communication tablet

MySano, Inc.* Business plan and financial model development for funding

Online healthcare portal for consumers

PeoplePlus Seeking assistance developing business plan

Supply chain software development company

Applied Engineering Technologies

Marketing Assistance Combined and Sanitary Sewer Overflows (CSOs and SSOs) Solution: Treatment Shaft Technology

NextGen Metabolomics Inc.

Business Planning IROA, in the application of metabolomics for the purpose of discovering diagnostics biomarkers

MedTable Business Planning MedTable is an online personal and professional networking site for physicians

EngXT Business Plan Static Electricity Discharge Practical EHR Solutions, LLC

Sales Video Spinout from Michigan Multispecialty Physicians P.C., Effective electronic health records that physicians can use. Next generation EHR solution SaaS model.

ReGenerate* Design and Technical work Design and integration work Stirling Engine feasibilty

Developer of onsite alternative energy, anaerobic digestion of food waste to energy

*Denotes University of Michigan

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The following companies received Phase III level support 25 companies received business accelerator engagements this quarter vs. 26 last year. These companies currently have 53 FTEs (Full Time Equivalent)

Account Name Opportunity Description Account Description BA

Contract Amount

BA Expenditures

Retrosense Therapeutics, LLC

Preclinical and clinical trial planning

Therapeutic for treatment of retinal diseases

$7,500 $7,500

Blaze Medical Devices*

IP Office Action Response Spectral analysis for red blood cells

$600 $600

WriteSteps Market Segmentation and Go-To Strategy

To create a web based, NCCSI compliant WriteSteps, the current WriteSteps videos and PDF materials will be revised to meet the new standards.

$2,500 $2,500

Optime' Supply Chain, Inc.

Seeking Business Plan and Marketing Assistance

Producer of healthcare supply chain software products

$8,300 $8,300

Optime' Supply Chain, Inc.

Exec Summary Producer of healthcare supply chain software products

$1,700 $1,700

AutoHarvest Foundation

IP Work A web-based, toll-free superhighway for the multidirectional exchange of Intellectual Property, Technology and Products

$6,500 $6,440

AutoHarvest Foundation

Corporate Identity and Website

A web-based, toll-free superhighway for the multidirectional exchange of Intellectual Property, Technology and Products

$3,500 $3,500

Sentry Medical Technologies

Business Plan and Financial Model with Home Care Market included

Monitoring, awareness and data logging for patient behavior action.

$6,000 $6,000

Michael Kaye Holdings, LLC

IP work Website for building construction project, repair and supply bids.

$600 $600

i3D Technologies, LLC

Market Strategy and Go-to-Market

Provider of advanced software solutions for sewer modeling to municipalities and engineering consultants

$10,000 $10,000

Vinazene, Inc. Seeking assistance with patents

Creator of a conducting polymer

$4,500 $4,500

Openworld Energy LLC

Business Plan Manufactures and develops solid state lighting systems for commercial and industrial applications

$8,100 $8,100

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STIgma Free Diagnostics, LLC*

IP Work point-of-care diagnostic device for the rapid diagnosis of the three most common, curable STDs

$2,000 $2,000

My Repair Facts Leagal and Financial work On-line solution for buyers and sellers of used cars access to a vehicle's history

$10,000 $10,000

Sleep Zones IP and Legal Work Scientifically designed night lights which eliminate the pronounced sleep-degrading effects of using conventional night lights.

$10,000 $10,000

Reveal Design Automation, Inc.*

Marketing plan Faster and more effective Integrated Circuit (IC) design quality control software.

$6,500 $3,340

Possibilities for Change*

Initial Market Assessment Youth Risk Assessment tool $2,000 -

Synaptin LLC Financial Modeling Synaptin is a system to provide modern hospitals with a modern communications solution.

$2,000 $775

LectureTools, Inc* Establish their accounting system

Interactive educational for K-12, college, professional

$1,000 $500

Ix Innovations, LLC*

Assist with fundraising efforts

Picoammeters, electrical test and measurement instrumentation

$10,000 $7,000

Therapy Charts, LLC

Sales Assistance TherapyCharts serves therapists who are independently practicing with software as a service (SaaS) platform to manage patient information.

$15,000 $11,250

Blue Newt Software

Business Planning Our core market is customers needing simulation applications for real-world activities

$10,000 $6,617

LectureTools, Inc* Business Plan and Strategic Planning

Interactive educational for K-12, college, professional

$9,000 $4,000

CareCheq Design work Creator of online portal to connect care consumers and care providers

$6,700 $3,350

CareCheq Seeking general business assistance

Creator of online portal to connect care consumers and care providers

$3,300 $1,020

NextGen Metabolomics Inc.

Market Validation IROA, in the application of metabolomics for the purpose of discovering diagnostics biomarkers

$4,000 $2,675

MS Bioworks, LLC Sales and Marketing Process Development

State-of-the-art protein mass spectrometry service provider

$20,000 $9,597

12

Avicenna Medical Systems*

Marketing and sales strategy and customer contacts

Healthcare IT, AviDocs, to integrate patient data for billing and quality management; and AviTracks, a system for monitoring and managing the use of drugs in patients.

$20,000 $9,615

Pairasight Inc Development Work 3D Vision System $10,000 $3,000


SPARK Central Incubator Total number of Full Tenants (those in a cubicle with secure space and full privileges) totaled 7 companies with 11 seats at the end of this quarter. There are three seats available. Tenants are charged a license fee per seat, or person(s) using the space.

Account Name Account Description Incubator Start Date

Incubator Exit Date

Incubator Seats


Manufactures and develops solid state lighting systems for commercial and industrial applications

12/15/2008 4/15/2011 2

Buycentives, LLC Online management system for automotive incentives

2/1/2011 10/29/2011 1

MySano, Inc.* Online healthcare portal for consumers 6/1/2009 12/31/2011 1

Sentry Medical Technologies


11/15/2010 5/9/2011 1

Reveal Design Automation, Inc.*

Faster and more effective Integrated Circuit (IC) design quality control software.

1/1/2010 8/31/2011 1

Cyclose Semiconductor*

Ultra low power semi-conductor chips 10/6/2009 2/28/2012 2

i3D Technologies, LLC


12/1/2010 12/31/2011 1

Robert Bosch, LLC Gasoline systems 9/15/2010 9/14/2011 4

CareCheq Creator of online portal to connect care consumers and care providers

5/1/2011 11/12/2011 1

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Virtual Tenants

Account Name Account Description Virtual Start Date

Virtual End Date

FamilyMint, Inc. Children's financial learning program 7/1/2010 7/1/2011

Watch-a-Watt LLC Energy monitoring technology for residential applications

7/1/2010 9/30/2011

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eNcipient LLC iPhone case and accessories 7/1/2010 6/30/2011

Blaze Medical Devices* Spectral analysis for red blood cells 7/1/2010 9/30/2011

Project 42/Yaccss Consumer review website for people with disabilities, older adults and their companions and care givers.

1/1/2011 5/31/2011

Blazing Copy Inc Marketing Consultant 1/1/2011 1/31/2011

Vision Solutions International specializes in vision-assisted robot guidance applications

7/1/2010 9/30/2011

Jelic Patent Services, LLC Patent advisor 7/1/2010 1/1/2011

eChamberConnect, LLC. Web based applications for Chambers of Commerce

2/1/2011 2/1/2012

Rock e-commerce We provide exclusive world class enterprise level internet e-commerce solutions for small to medium sized businesses at breakthrough pricing through relentless innovation and single point of access.

7/26/2010 7/26/2011

Century Media LLC Forum to upload, customize, and create mobile multimedia

8/10/2009 9/30/2011

Onto-Med A firmware application for collecting/analyzing multiple patient parameters in an ICU in real time

9/1/2010 8/31/2011

AutoHarvest Foundation A web-based, toll-free superhighway for the multidirectional exchange of Intellectual Property, Technology and Products

7/1/2010 10/1/2011

GTI Risk Management Risk management- IT security, etc. 7/1/2010 9/30/2011

MediQLogix Software that will provide needed healthcare quality management business solutions for hospitals using SaaS (as service).

7/1/2010 9/30/2011

Creadio Branded television and radio stations 5/15/2010 11/15/2010

Patient Provider Communications Hospital bed communication tablet 11/1/2010 5/30/2011

Wolverine Energy Solutions & Technology Inc.

Supercapacitor energy storage devices 11/1/2010 5/1/2011

EFM Waste Management Medical waste disposal equipment 7/1/2010 6/30/2011

401 Systems Advanced Planning and Scheduling (APS) solutions (adapted from manufacturing) will improve the utilization of doctors, nurses, beds and equipment, thereby lowering costs and improving service

2/1/2011 7/31/2011

Digital Knowledge Corporation CI for the middle-market, news portal for suppliers - KM Solution

7/1/2010 9/30/2011


14

Microloans

We made one loan this period.

Account Name Account Description Use of Funds Funding Request Amount

Loan Amount

Date of Initial

Investment

Retained FTE Jobs



Buying material for installations

$25,000 $25,000 5/9/2011 3

Grand Totals (1 record)

$25,000 $25,000 3

* Denotes University of Michigan affiliation

This quarter MyBandStock Corporation, an August, 2010 loan recipient of $45,000, has gone out of business.

The total number of loans issued this fiscal year was $292,000, leaving $108,000 balance for 2010/11. A complete list of companies which have received loans will be provided in the annual report. No loan has matured to date.

Total Companies

Retained FTE

Current FTE Loaned Out Grants and Private Equity Received

Repayments Attended Boot Camp

16 36 40 $566,000 $639,500 $17,300 7

Business Services The 19th installment of the Ann Arbor SPARK Entrepreneur Boot Camp was May 5th & 6th. It was held at the Kensington Court Hotel in Ann Arbor. We received 27 applications. Brio Devices in Ann Arbor won Best of Boot Camp. Account Name Location Account Description Current

FTE Jobs H3D* Ann Arbor Advanced gamma ray detection and imaging devices

based on wide band-gap semiconductor materials. 1

Vena* Ann Arbor Contactless reward service 2

15

SenseAide Rochester Hills Technology based senior care services 1

Possibilities for Change*

Ann Arbor Youth Risk Assessment tool 2

ArtJen Complexus USA

Detroit Mirafit fbcx® is a soluble dietary fiber in tablet form. 2

ReGenerate* Ann Arbor Developer of onsite alternative energy, anaerobic digestion of food waste to energy

4

BRIO DEVICE* Ann Arbor An intubation device (the SmartAirway) that is easy-to-use and improves first-pass success rates for inexperienced practitioners

4

squaared.im* Ann Arbor The squaredbuddy translates messages between chat networks,

1

GSE Technologies, LLC

Houghton DigiDrive IV provides mobile electronic products and services added to devices owned by the customer.

1

DNA Software Ann Arbor Software for computational biology 12 Lukacs Newco* Ann Arbor Monoclonal antibody therapy for treatment of lung

disease 2

Xondas* Ann Arbor A device that shapes the electromagnetic near field so as to provide subwavelength focus at a prescribed distance.

3

STIgma Free Diagnostics, LLC*

Ann Arbor point-of-care diagnostic device for the rapid diagnosis of the three most common, curable STDs

3

Qi Analyze Ann Arbor JEE software application 1 Grand total 39 *Denotes University of Michigan

Hosted Events Event Name Date Place of Event Approx # of attendees Purpose of Event

Entrepre

neurs Total

Attendees Ann Arbor OpenCoffee Total

April, May June

SPARK - Central 24 60 This is a networking event for entrepreneurs, investors and those who work with technology & innovation businesses, particularly in IT, cleantech and life sciences. It's heavy on networking, full of interesting opinions and stories, and has led to several successful business partnerships.

BioArbor Total

April, May June

SPARK Central, NCRC

123 259 BioArbor hosts educational networking events for the life sciences industry in the greater Ann Arbor area. Each monthly meeting features a networking session and an invited speaker, followed by a Q&A period.

16

Business Accelerator Consultants Meeting

April, May June

SPARK Central, 41 58 Monthly Business Accelerator meeting to update consultants on SPARK and review projects.

Business Law and Order Total

April, May June

SPARK - Central 31 68 Starting a new business is complicated: there are many t’s to cross and i’s to dot. The nine session Business Law & Order Legal Series will give entrepreneurs insight into some of the most important legal issues they must consider during business formation. Some of these issues include: proper business structure, intellectual property protection, founders and key employee compensation, considerations regarding employees versus independent contractors, doing business overseas and commercial agreements. The sessions will help new business owners understand their options and make better decisions relating to the structure, organization and management of their business.

CFO Roundtable Total

April, May June

SPARK - Central 16 51 The CFO Roundtable is a monthly opportunity for Washtenaw area CFOs and other top financial representatives within an organization to network, interact, and learn from their peers as well as from interesting speakers. The sessions provide new and growing businesses a place to learn about the financial issues they are likely to encounter and how others have successfully addressed those issues. The topics of the roundtable are driven by the participants and interactive feedback is encouraged. There is plenty of time each session to ask questions relevant to either the program or your own specific needs. The program is open to everyone.

Hot Shots Total

April, May June

Melange 15 114 Bring your resume, and come and mingle with growing, innovative companies in a fun and relaxed environment!

17

Marketing Roundtable Total

April, May June

SPARK - Central 70 148 The 2011 Marketing Roundtable is a ten-session monthly series featuring regional talent who will discuss practical and cost-effective innovation marketing. Program topics range from brand strategy to social media, and from financial accountability to guerrilla marketing.

Michigan Energy Forum Total

April, May June

SPARK - Central 70 169 This session is part of a monthly panel discussion and networking event series hosted by the Michigan Energy Forum, and sponsored by Ann Arbor SPARK. The mission of the forum is to facilitate collaboration and networking among practitioners, policy makers, investors, and professionals in the Michigan region. Please join us and take notes on best practices from our panels exhaustive experience.

Super Hot Shots

June 6, 2011

Melange 10 30 Semi-annual career networking event for executive-level talent and investors seeking opportunities for themselves.

400 957

Sponsored Events Event Name Date Place of Event Approx # of attendees Purpose of Event

Revitalizing Innovation 2011 event sponsorship

April 22 & 23, 2011

Michigan League Ann Arbor, MI

250+ U S Dept of Energy/U of M workshop on revitalizing innovation in clean energy.

Significant Deviation from Scope of Work

Business Accelerator Phase III consulting services exceeded the revised budget of $275,000 by $6,441.

Business Networking Events exceeded budget of $30,000 by $884.

Indirect Services for Marketing exceeded budget of $65,000 by $6,941.

All other budget line items were under budget. Total budget for the year was under budget by $40,936.

Contractor requests the overage of the above three items totaling $14,266 be paid, leaving a total variance from budget at $26,670 under budget.

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1 Ann Arbor/Ypsilanti SmartZone Annual Report 2010-2011

Ann Arbor/Ypsilanti SmartZone

LDFA Final Program Progress Report

Contract period July 1, 2010 through June 30, 2011

August 30, 2011

3.3 The Contractor shall provide a written Final Program Progress Report to the LDFA no later than sixty (60) days after the end of the Project Service Term. The Final Program Progress Report shall disclose: 1) a census of the annual and cumulative number of jobs created within the Service Area (as defined in Attachment A) as of June 30, 2011 (with jobs defined as the incremental increase in the number of FTEs beginning with the date a Business Accelerator proposal is signed, or a loan is provided, or when a SPARK Central Incubator agreement is first executed, or when participation in Boot Camp session occurs); 2) a census of the annual and cumulative number of jobs related to Business Accelerator, SPARK Central Incubator, and Boot Camp attendees that have left the Service Area because of relocation, merger, acquisition, or business failure as of June 30, 2011; 3) a census of the number and identity of current and past clients the Contractor deems no longer eligible for LDFA funded services as of June 30, 2011; and 4) a census of the number and identity of clients for which information regarding jobs creation is no longer being collected as of June 30, 2011. The Contractor shall track companies for a period of five years through an annual survey and make efforts to achieve as high a participation rate as possible. The survey will not only include questions that update standard economic development data but also ask companies who leave the area why.

Annual and cumulative jobs created

The following table lists all companies that received Business Accelerator services in FY 2010-11. Retained jobs are those which the company reported at the time of the initial engagement of services. The current jobs are those jobs updated through recent contact with the company or the annual survey conducted each July and August. New jobs are the difference. FTE for reporting purposes means Full Time Equivalents. FTEs may or may not be paid and may be working for deferred compensation in cash or stock. Full Time means a 40 hour per week commitment to the company.

Uniq ID

Account Name Account Description Retained FTE Jobs

Current FTE Jobs

New FTE

Jobs 3600 AutoHarvest

Foundation A web-based, toll-free superhighway for the multidirectional exchange of Intellectual Property, Technology and Products

1 2 1

1646 Avicenna Medical Systems, Inc.

Healthcare IT, AviDocs, to integrate patient data for billing and quality management; and AviTracks, a system for monitoring and managing the use of drugs in patients.

4 3 -1

19


2752 Backyard Brains Entry-level neurophysiology (brain signal recording) kits for students to learn about the brain

2 4 2

2742 Baker-Calling, Inc. New generation of microphone 1 1.5 0.5 3570 Bebaroo LLC Online rental for baby clothing 2 4 2 1282 Blaze Medical

Devices Spectral analysis for red blood cells 2 2 0

3006 Blue Newt Software

Our core market is customers needing simulation applications for real-world activities

2 2 0

4141 CareCheq Creator of online portal to connect care consumers and care providers

3 3 0

1471 Estrakon, Inc. New acrylic sign lighting technology 7 7 0 3418 FamilyMint, Inc. Children's financial learning program 2 2 0 3724 Hamztec, LLC Medical technologies to address undesired

behaviors 1 1 0

3221 i3D Technologies, LLC


2 3 1

3118 INOS Technologies, LLC

Joint venture to develop foams using non-petroleum sources, particularly in life science industry

6 6 0

3105 Ix Innovations, LLC Picoammeters, electrical test and measurement instrumentation

2 2 0

793 LectureTools, Inc Interactive educational for K-12, college, professional

1 8 7

4052 Mark Bowers, Ph.D., PLLC

Creator of App for the Apple store dealing with children with disabilities

1 1 0

4243 Michael Kaye Holdings, LLC

Website for building construction project, repair and supply bids.

1 1 0

1465 Monarch Antenna Inc.

Self-Structuring Antenna for wireless applications 1 1.5 0.5

3577 MS Bioworks, LLC State-of-the-art protein mass spectrometry service provider

4 4 0

4237 My Repair Facts On-line solution for buyers and sellers of used cars access to a vehicle's history

7 7.5 0.5

2159 MySano, Inc. Online healthcare portal for consumers 2 2 0 3645 NextGen

Metabolomics Inc. IROA, in the application of metabolomics for the purpose of discovering diagnostics biomarkers

2 2 0

2821 Onto-Med A firmware application for collecting/analyzing multiple patient parameters in an ICU in real time

1 2 1

2578 Openworld Energy LLC

Manufactures and develops solid state lighting systems for commerical and industrial applications

1 1 0

3839 Optime' Supply Chain, Inc.

Producer of healthcare supply chain software products

2 2 0

3995 Pairasight Inc 3D Vision System 1 1 0 2539 Patient Provider

Communications Hospital bed communication tablet 2 1 -1

2712 Popa Enterprises, Inc.

Card system for coupons and receipts 1 1 0

20


4111 Possibilities for Change

Youth Risk Assessment tool 1 1 0

3637 RetroSense Therapeutics, LLC

Therapeutic for treatment of retinal diseases 2.5 2.5 0

3010 Reveal Design Automation, Inc.


1 7 6

2700 Saagara Interactive/customizable behavioral modification software, for beneficial health outcomes.. Business and technology planning

2 6.5 4.5

1648 Sentry Medical Technologies


1 1 0

2838 Shepherd Intelligent Systems

Software for tracking vehicles using mobile phone GIS

3 4 1

4230 Sleep Zones Scientifically designed night lights which eliminate the pronounced sleep-degrading effects of using conventional night lights.

1 1 0

4186 STIgma Free Diagnostics, LLC

point-of-care diagnostic device for the rapid diagnosis of the three most common, curable STDs

3 3 0

3454 Stratus Global Health device for the prevention of Sexually Transmitted Infections that otherwise are transmitted by oral sex

2 2 0

3051 Supply 55, Inc. Invented machinery for finishing edges of signs and banners, able to be priced much lower than competition

2 2 0

3074 Synaptin LLC Synaptin is a system to provide modern hospitals with a modern communications solution.

3 3 0

2880 Therapy Charts, LLC TherapyCharts serves therapists who are independently practicing with a software as a service (SaaS) platform to manage patient information.

1 1 0

3090 The RepoNetwork Online forum connecting banks with asset recovery specialists

2 2 0

4000 Transition Edition, LLC

Unique combination of optical character recognition (OCR) and data mining for College Textbook comparisons

2 1 -1

4174 Vinazene, Inc. Creator of a conducting polymer 1 1 0 3937 WriteSteps To create a web based, NCCSI compliant

WriteSteps, the current WriteSteps videos and PDF materials will be revised to meet the new standards.

1 2 1

Grand Totals (43) 93.5 118.5 25

These BA companies have cumulatively received more than $4,995,662 million in grants and $4,458,524 million in private equity funding to date.

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The following table lists all companies that attended Boot Camp this fiscal year (Nov. 4 & 5 and May 5 & 6). Retained jobs are those which the company reported at the time of attendance at Boot Camp. The current jobs are those jobs updated through recent contact with the company. New jobs are the difference.

Uniq ID


Current FTE Jobs

New FTE

Jobs 3088 EFM Waste

Management Medical waste disposal equipment 2 3 1

3923 Microwave Medical*

The product is a microwave system for breast cancer imaging and therapy. Images are quantitative and diagnostic.

2 2 0

3570 Bebaroo LLC* Online rental for baby clothing 2 2 0 2156 Vision Solutions

International specializes in vision-assisted robot guidance applications

3 3 0

3920 SMP* Biodegradable polymer platform for controlled release of macromolecular drugs and vaccine antigens, which is based on self-microencapsulation processes (SMP); solves issue with minimally invasive delivery of this category of drugs.

2 2 0

3644 Fusion Coolant Systems, Inc.

Coolant and lubrication system for metalworking and tooling

3 4.5 1.5

3942 Sunkwa* We identified the need for a blood salvage device that can be operated by a health care provider to collect blood from a hemorrhaging patient, filter it, and transfuse it back into the body.

2 2 0

3937 WriteSteps To create a web based, NCCSI compliant WriteSteps, the current WriteSteps videos and PDF materials will be revised to meet the new standards.

1 1 0

3914 401 Systems Advanced Planning and Scheduling (APS) solutions (adapted from manufacturing) will improve the utilization of doctors, nurses, beds and equipment, thereby lowering costs and improving service

2 2 0

3916 ULTrA* A home telerehabilitation system using interactive software increases access to quality care tailored to individual needs.

2 2 0

3915 Are You A Human*

The AYaH CAPTCHA applet is more intuitive and secure than the text based applications currently in use. Our design not only offers increased security

2 2 0

1556 ElectroDynamic Applications, Inc.

Research and development with spacecraft systems, plasma systems, and electromagnetic interactions.

7 7 0

1555 Nanosystems, Inc. Chemical solutions for bio polymer products 1 1 0 4228 H3D* Advanced gamma ray detection and imaging

devices based on wide band-gap semiconductor materials.

1 1 0

4229 Vena* Contactless reward service 2 2 0 4200 SenseAide Technology based senior care services 1 1 0

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4111 Possibilities for Change*

Youth Risk Assessment tool 1 1 0

4199 ArtJen Complexus USA

Mirafit fbcx® is a soluble dietary fiber in tablet form. 2 2 0

3502 ReGenerate* Developer of onsite alternative energy, anaerobic digestion of food waste to energy

3 3 0

4167 BRIO DEVICE* An intubation device (the SmartAirway) that is easy-to-use and improves first-pass success rates for inexperienced practitioners

4 4 0

4086 squaared.im* The squaredbuddy translates messages between chat networks,

2 2 0

1820 GSE Technologies, LLC

DigiDrive IV provides mobile electronic products and services added to devices owned by the customer.

1 1 0

659 DNA Software Software for computational biology 12 12 0 4188 Lukacs Newco* Monoclonal antibody therapy for treatment of lung

disease 2 2 0

4185 Xondas* A device that shapes the electromagnetic near field so as to provide subwavelength focus at a prescribed distance.

2 2 0

4186 STIgma Free Diagnostics, LLC*

point-of-care diagnostic device for the rapid diagnosis of the three most common, curable STDs

3 3 0

4067 Qi Analyze JEE software application 1 1 0 Grand Totals (27 records)

68 70.5 2.5

6 Boot Camp companies received Business Accelerator Phase III engagements. 15 participating teams were out of the University of Michigan*(Center for Entrepreneurship, Medical Innovation Center, Office of Tech Transfer and Zell Laurie Institute/Ross School of Business).

2 companies, ArtJen Complexus USA and SensiAide attended the May 2011 camp on Tech Town grants.

The following table lists all companies that received a Micro Loan through the LDFA. Retained jobs are those which the company reported at the time the loan was received. The current jobs are those jobs updated through recent contact with the company. New jobs are the difference.

Uniq ID

Account Name

Account Description Loan Amount

Loan Due Date

Retained FTE Jobs

Current FTE Jobs

New FTE Jobs

1585 Procuit Inc. Educational software engines $30,000 9/8/2011 4 5 1

2804 Allinnova LLC Assessment tool for determining a corporation's capability to be successful in strategic partnering with another organization

$10,000 10/22/2011 1 1 0

1982 The Whole Brain Group, LLC

Web site design, social media $50,000 11/9/2011 5 13 8

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2181 MemCatch Web-based marketing services for education and related non-profit and government entities

$25,000 12/14/2011 1 1 0

3045 Local Orbit, LLC

Online marketplace for food distribution

$10,000 1/8/2012 2 4 2

3105 Ix Innovations, LLC


$35,000 3/4/2012 3 2 -1

2153 RiserCam, LLC - Out of Business

Specialized video equipment for shooting sports and outdoors industry.

$25,000 4/13/2012 2 0 -2

1585 Procuit Inc. Educational software engines $20,000 4/27/2012 4 5 1 1885 Akervall

Technologies, Inc.

Commercializing dental appliance - mouthguard

$15,000 5/27/2012 1 2 1

338 Digital Knowledge Corporation

CI for the middle-market, news portal for suppliers - KM Solution

$29,000 6/17/2012 1 2 1

3176 Road to Rado, LLC

Web-based system that measures confidence behind what students learn

$25,000 6/22/2012 1 1 0

3045 Local Orbit, LLC

Online marketplace for food distribution

$40,000 7/20/2012 2 4 2

2868 MyBandStock Corporation - Out of Business

Online community that sells access to musicians in the form of virtual shares

$45,000 8/13/2012 3 0 -3

3418 FamilyMint, Inc.

Children's financial learning program

$50,000 9/15/2012 2 2 0

2838 Shepherd Intelligent Systems

Software for tracking vehicles using mobile phone GIS

$45,000 11/1/2012 2 4 2

3600 AutoHarvest Foundation

A web-based multidirectional exchange of Intellectual Property, Technology and Products

$25,000 12/20/2011 2 2 0

3105 Ix Innovations, LLC


$15,000 1/28/2013 2 2 0

2880 Therapy Charts, LLC

Patient information management software for independent therapists.

$47,000 2/24/2013 3 1 -2

2610 Buycentives, Inc

Online management system for automotive incentives

$25,000 3/16/2013 3 2 -1

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$25,000 5/9/2013 3 1 -2

Total Loans Issued

Retained FTE Jobs

Current FTE Jobs

New FTE Jobs

TOTALS $591,000 47 41 -6 These companies have raised $974,500 in private equity and $50,000 in grants since receiving loans.

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The following table lists all companies that are or were Incubator tenants this year. Retained jobs are those which the company reported at the time they moved into the incubator. The current jobs are those jobs updated through recent contact with the company. New jobs are the difference.

Seated Tenants

Uniq ID Account Name Account Description Retained FTE Jobs

Current FTE Jobs

New FTE Jobs

1787 CVR Global Medical device to check the carotid artery for build up without invasive measures.

4 25 21

3009 Meadowlark Energy

Fully integrated green building company. 2 1 -1

4243 Michael Kaye Holdings, LLC

Website for building construction project, repair and supply bids.

1 1 0


Manufactures and develops solid state lighting systems for commerical and industrial applications

1 1 0

2610 Buycentives, Inc Online management system for automotive incentives

2 2 0

2159 MySano, Inc. Online healthcare portal for consumers 2 2 0 2610 Buycentives, Inc Online management system for

automotive incentives 2 2 0

1648 Sentry Medical Technologies

Monitoring, awareness and data logging for patient bahavior action.

2 1 -1

3438 Digital Light LED lighting technology R&D and manufacturing

1 0 -1

4141 CareCheq Creator of online portal to connect care consumers and care providers

3 3 0

1848 Hygieia, Inc. Glucose monitor that recommends dosage adjustments for improved glycemic control

1 8 7

3010 Reveal Design Automation, Inc.


1 7 6

438 Cyclose Semiconductor

Ultra low power semi-conductor chips 3 5.5 2.5

3221 i3D Technologies, LLC


2 2 0

3616 Robert Bosch, LLC

Gasoline systems 7* 7* 0

Grand Totals (15 records) 34 67.50 33.50

Two companies, Hygieia & Openworld Energy successfully graduated out of SPARK Central and are both located in the City of Ann Arbor

The Bosch job number reflects only those employees assigned to the collaboration team housed in SPARK Central.

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Virtual Tenants

Uniq ID


Current FTE Jobs

New FTE

Jobs 2652 Clean Rolling Power Novel diesel engine system to reduce

emissions and improve efficiency 1 1 0

3418 FamilyMint, Inc. Children's financial learning program 2 2 0 2945 Watch-a-Watt LLC Energy monitoring technology for residential

applications 1 1 0

2926 eNcipient LLC iPhone case and accessories 2 2 0 206 OTO Medicine - Out of

business Hearing loss prevention pharmaceutical 2 0 -2

1282 Blaze Medical Devices Spectral analysis for red blood cells 1 4 3 4007 Project 42/Yaccss Consumer review website for people with

disabilities, older adults and their companions and care givers.

1 1 0

4019 Blazing Copy Inc Marketing Consultant 1 1 0 2156 Vision Solutions

International specializes in vision-assisted robot guidance applications

3 3 0

2550 Jelic Patent Services, LLC

Patent advisor 1 1 0

2634 eChamberConnect, LLC.

Web based applications for Chambers of Commerce

2 10 8

2610 Buycentives, Inc Online management system for automotive incentives

2 2 0

2634 eChamberConnect, LLC.

Web based applications for Chambers of Commerce

10 10 0

2966 Rock e-commerce We provide exclusive world class enterprise level internet e-commerce solutions for small to medium sized businesses at breakthrough pricing through relentless innovation and single point of access.

1 1 0

2975 Century Media LLC Forum to upload, customize, and create mobile multimedia

2 2 0

2821 Onto-Med A firmware application for collecting/analyzing multiple patient parameters in an ICU in real time

2 2 0

3600 AutoHarvest Foundation

A web-based, toll-free superhighway for the multidirectional exchange of Intellectual Property, Technology and Products

1 3 2

2854 Michigan Business Incubator Association

MI state incubator association 0 1 1

271 GTI Risk Management risk management- IT security, etc. 1 9 8 2610 Buycentives, Inc Online management system for automotive

incentives 2 2 0

2790 MediQLogix Software that will provide needed healthcare quality management business solutions for hospitals using SaaS(sw as service).

1 4 3

3575 Creadio Branded television and radio stations 1 1 0 4227 Preissner Engineering

& Consulting, LLC Engineering srvcs, including advanced FEA, CAD, and high-end design solutions

1 1 0

27


3645 NextGen Metabolomics Inc.

IROA, in the application of metabolomics for the purpose of discovering diagnostics biomarkers

2 1 -1

3101 Dental Adhesive Products LLC

Dental product: patented time release polymer-based dental adhesive

1 2 1

2539 Patient Provider Communications

Hospital bed communication tablet 1 1 0

3340 Wolverine Energy Solutions & Technology Inc.

Supercapacitor energy storage devices 4 4 0

3088 EFM Waste Management

Medical waste disposal equipment 2 3 1

3914 401 Systems Advanced Planning and Scheduling (APS) solutions (adapted from manufacturing) will improve the utilization of doctors, nurses, beds and equipment, thereby lowering costs and improving service

2 2 0

338 Digital Knowledge Corporation

CI for the middle-market, news portal for suppliers - KM Solution

1 1 0

3065 Wiseman Engine Group, LLC

The fundamental product is a patented piston/connecting rod/ crankshaft mechanism that results in an internal combustion engine that has up to 50% more fuel efficiency

2 1 -1

3221 i3D Technologies, LLC Provider of advanced software solutions for sewer modeling to municipalities and engineering consultants

2 2 0

58 81 23

Methodology utilized in the census.

Contractor uses Salesforce.com as its Customer Relationship Management system to record data about companies. Information about all companies is gathered through a variety of methods.

1. Implemented in late 2008 was a procedure requiring all entrepreneurs requesting assistance of Ann Arbor SPARK for Business Acceleration services, incubator space or applying to Boot Camp to fill out an online form which could be accessed through the SPARK website. Basic information including name, address, phone, email and brief description of company is required. This information is automatically fed into our CRM system.

2. An effort is made to connect with all inquiries within 48 hours. In an initial communication additional data is gathered by SPARK personnel to determine if the entrepreneur meets minimum criteria to warrant further discussion and assistance. At that time a better description of the persons needs are captured and put into the system.

3. We capture for the first time the jobs or full time equivalent workers that a company had at the time of an engagement of any kind. This number becomes our retained jobs number and is not altered. However, for reporting purposes it is possible the retained jobs number can change for a company if that company takes advantage of multiple services and their FTE count changes

28


between those services. For example, when a company attends Boot Camp there may be only one employee, the entrepreneur. When that company returns for Business Accelerator services there may be two or three partners/employees. So when reported based on Boot Camp attendees the retained jobs is one. When reporting on BA clients the retained jobs are two or three.

4. Throughout the year ‘current jobs’ is collected anecdotally. When SPARK employees meet entrepreneurs in the community or in more formal sessions we try to get an FTE update and record that new information in the CRM system. A more formal attempt to capture all company information is done through an annual survey. This survey of all SPARK engaged clients is sent asking for several pieces of data including current employment and new hires the previous year. Unfortunately the response to our surveys has been less than 100%. For this contract year our response rate was 63%. We make calls to non-respondents but with limited success. The survey and phone follow-up is with companies who have received services the past five years.

5. To calculate the number of new hires for a company we merely subtract the retained jobs for the particular service we provided from the current job count which gives us the added jobs since that particular engagement.

Contractor continues to refine procedures to capture data more efficiently, accurately and timely.

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